According to an interview by Matthew Artz of the Oakland Tribune, the Oakland Raiders stadium plans would include:
~ building a 50,000-seat stadium at an estimated cost of $800 million.
~ putting up $300 million of their own
~ borrowing $200 million from the NFL as part of the league’s stadium loan program
~ taxpayers putting up $300 million
According to Davis, moving back to Los Angeles is a possibility for the Raiders if they can’t strike a deal with the City of Oakland. Currently, there are NO talks involving a stadium in Los Angeles.
Oakland Raiders Stadium Plan Fits Oklahoma City’s MAPS 3
MAPS (Metropolitan Area Projects) is Oklahoma City’s visionary capital improvement program for new and upgraded sports, recreation, entertainment, cultural and convention facilities. Oklahoma City is the model city in the country to undertake a public facility enhancement project of this size. MAPS is funded by a temporary one-cent sales tax first approved by city voters in December 1993. During the first 66 months it was in effect, over $309 million was collected. In addition, the deposited tax revenue earned about $54 million in interest.
Currently, Phase 3 of the Oklahoma City MAPS project is underway which began in 2010 and runs through December of 2017. The one-cent sales tax will raise an estimated $777 million to fund the construction. An Oakland Raiders stadium could be the centerpiece the Oklahoma City MAPS project.
Continuing the MAPS 3 tax for another three years would create the necessary revenue for an Oakland Raiders stadium plan. Below is a list of the current projects under the Maps 3 plan:
- $94.4 Million dollar Streetcar project
- $130 Million Dollar Downtown Park
- $280 Million Dollar Convention Center
- $60 Million Dollar Kayaking Venue
- $60 Million State Fair Park overhaul
- $50 Million Dollar Aquatic Center for senior citizens
- $40 Million Dollar Biking and Walking Trails
- $10 Million Dollar Sidewalks
- $17 Million Dollar Fund for cost overruns
Oklahoma City Thunder Success Leaves Room For An Oakland Raiders Stadium
In the Bricktown district, businesses can clearly measure the success of having an NBA franchise. Before the Thunder, January was a slow month for businesses in Bricktown. With the addition of Thunder games, business in Bricktown has never been better, with some businesses reporting 40% increases. The basketball team is just one piece of Oklahoma City’s success. According to the Oklahoma City Chamber of Commerce, the population has increased 15 percent since 2000, with property values rising 472 percent. “The Thunder have been a complimentary piece of the complete city we’re trying to create,” said third-term Oklahoma City Mayor Mick Cornett (R). “They’re helping to engage people with the arts, parks and character of our city and helping us retain our young people while drawing in other young professionals. We’ve been able to accumulate this human capital, which is great because in generations past Oklahoma City didn’t have as much pull with jobs or attractions. Now we’re really building all that.”
The Solution To Oakland Raiders Stadium Woes
Some will disagree, but Oklahoma City is ready… and an NFL Franchise in Oklahoma City would be a field of dreams for the future.
As a former Los Angeles Raider, I’m hoping the Oakland Raiders stadium will stay Oakland. But if team owner Mark Davis and the city of Oakland can’t make the deal, it’s my take that moving the team, to Oklahoma City is a win-win solution.
More on the Oakland Raiders stadium plans…
In 2012, the Oklahoma City Thunder ranked #13 in the NBA for attendance, yet the numbers might be even better if the stadium had more seats. The Chesapeake Arena in Oklahoma City holds 18,203 and the Arena was filled to capacity for the 41 home games with 746,323 tickets sold. An amazing following for a football town. The Thunder has a 96 percent renewal rate for its season ticket holders and has 4,000 people on its waiting list.
As for NFL expansion in Oklahoma City, the Oakland Raiders are proposing a 56,500 seat stadium. If Oklahoma City was to fully support the franchise with weekly sellouts, the 8 game regular season would need only 452,000 ticket sales, nearly 300,000 fewer than the Thunder.
Clearly, a $300 Million Dollar NFL stadium investment could make a positive financial impact — not to mention a football stadium could be the centerpiece of the Oklahoma City MAPS project.
The National Basketball Association had reservations about whether there would be enough support in Oklahoma City for a franchise… the Thunder has since become a model team for the league. In July, The Oklahoma Venture Forum gave its inaugural Chairman’s Award for Economic Impact to the Oklahoma City Thunder for helping raise the city’s profile and boosting local business. Now, because of the momentum in the city that the Thunder has helped create, companies are finally looking at Oklahoma City as a place for future expansion.
As for the Oakland Raiders stadium plans, Oklahoma City is a field of dreams
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- Related: http://rustyhilger.com/oakland-raiders-stadium-plans-oklahoma-city/
- Related: http://rustyhilger.com/nfl-expansion-is-oklahoma-city-ready/